Finding Text
Condition and Criteria: The Office of Management and Budget’s (“OMB”) Uniform Guidance (“UG”) requires entities to have written policies and procedures surrounding the management of their award funds. It was noted that the Company did not have written policies and procedures surrounding job descriptions, procurement and contracts (micro purchases, small purchases and simplified acquisitions), suspension and debarment, conflict of interest statement, cash management (including disbursing Federal funds within three days of request) and eligibility. Cause: The Organization has many policies and procedures in place, however, they were unaware they were required to be documented in writing. Effect: The Organization is not in compliance with the UG requirements. Auditor’s Recommendation: The Organization should document in writing all policies and procedures relating to the Federal grants.